{"id":156,"date":"2021-07-15T19:48:42","date_gmt":"2021-07-16T00:48:42","guid":{"rendered":"https:\/\/www.realtyhop.com\/mortgage-center\/?p=156"},"modified":"2023-07-22T13:36:40","modified_gmt":"2023-07-22T17:36:40","slug":"what-is-a-conventional-loan","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/","title":{"rendered":"What is a Conventional Loan?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In this guide, we\u2019ll provide information on the most common type of home loan: the conventional loan. A conventional loan is a type of mortgage that\u2019s not backed by the government, but rather a private lender.<\/span><\/p>\n<h2>What are Mortgages?<\/h2>\n<p><span style=\"font-weight: 400;\">A mortgage is a type of loan where a bank or financial institution lends money to a homebuyer for the purpose of purchasing a property; the lender uses the purchased property as collateral.<\/span><\/p>\n<h3>Types of Mortgages<\/h3>\n<p><span style=\"font-weight: 400;\">There are three types of mortgages: <\/span><b>conventional loans, FHA loans, and specialty loans.<\/b><span style=\"font-weight: 400;\"> It\u2019s important to consider the pros and cons of each before deciding which one is right for you, as the type of loan will affect how much money you\u2019re eligible to borrow, the amount required for a down payment, and the total cost of the loan (with extra costs such as mortgage insurance or interest).<\/span><\/p>\n<h4>Conventional Loan<\/h4>\n<p><span style=\"font-weight: 400;\">A conventional loan, or conventional mortgage, is the most common type of home loan. These loans aren\u2019t part of any government program and aren\u2019t insured by government entities. They can be lower in cost than FHA loans, but more difficult to qualify for. Additionally, if you don\u2019t put at least 20% down, you\u2019ll have to pay private mortgage insurance (PMI) every month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conventional mortgages can be used for a variety of purchases, including primary residences, vacation homes, and rental properties. We\u2019ll dig into the details of conventional loans later in the guide.<\/span><\/p>\n<h4>FHA Loan<\/h4>\n<p><span style=\"font-weight: 400;\">FHA loans are insured by the Federal Housing Administration (FHA), a government agency, and must be used for purchasing a primary residence. The benefit of FHA loans is that they\u2019re generally available to those with lower credit scores, and require a smaller down payment (between 3.5% to 10%, depending on the credit score). FHA loans have mortgage insurance premiums (MIP) that are similar to PMI.<\/span><\/p>\n<h4>Specialty Loan<\/h4>\n<p><span style=\"font-weight: 400;\">Specialty loans are loans that are available to specific, qualifying groups. Examples include <\/span><span style=\"font-weight: 400;\">VA loans for veterans<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">USDA loans for those living in rural areas<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>VA loans<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Backed by the U.S. Department of Veterans Affairs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don\u2019t require a down payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Won\u2019t charge Private Mortgage Insurance (PMI)<\/span><\/li>\n<\/ul>\n<p><b>USDA loans<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Backed by the U.S. Department of Agriculture<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don\u2019t require a down payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Are only open to people with certain income levels. Be sure to check the requirements before applying.\u00a0<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6599 size-large\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2021\/06\/loan-terms-1024x767.png\" alt=\"\" width=\"696\" height=\"521\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">Loan Terms<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Loan terms are the length of time allowed to repay the loan \u2014 usually 15 or 30 years. This loan length affects a number of factors including interest rates, monthly payments, and the amount of interest paid over the life of the loan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A shorter loan term will have a lower cost and lower interest rates, but a higher monthly payment amount. A longer-term will have lower monthly payments, but higher interest rates and a higher total cost over the course of the loan.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Interest Rates<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are two types of interest rates: fixed and adjustable.\u00a0<\/span><\/p>\n<p><b>Fixed-rate loans<\/b><span style=\"font-weight: 400;\"> are what the name suggests \u2014 an interest rate that\u2019s fixed for the duration of the loan. This means your interest rate won\u2019t change at all during the loan, and your monthly payments will stay the same.<\/span><\/p>\n<p><b>Adjustable-rate mortgages (ARMs)<\/b><span style=\"font-weight: 400;\"> offer an initial period of fixed interest rates followed by a change (increase or decrease) in the interest rate depending on the market at the time. While ARMs may be cheaper in the short term, they can fluctuate heavily based on how the market performs. Common fixed periods for ARMs include 3, 5, 7, and 10 years, followed by adjustable rates on a yearly basis.<\/span><\/p>\n<h2>Types of Conventional Mortgages<\/h2>\n<p><span style=\"font-weight: 400;\">As mentioned above, conventional loans aren\u2019t insured by the government. They fall into two categories: conforming or nonconforming.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Conforming conventional loans\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Conforming conventional loans follow the regulations decided by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You\u2019ve likely heard the names Fannie Mae and Freddie Mac before in relation to the housing crisis of the early 2000s. While they technically aren\u2019t government institutions, the companies have been in \u201cconservatorship\u201d with the Federal Housing Finance Agency (FHFA) since 2008. This means that the FHFA monitors the operation of Fannie and Freddie to ensure they do their part to build an efficient housing market and reduce taxpayer risk by adding private capital to the mortgage industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By following these rules, conforming conventional loans are eligible to be purchased by Fannie and Freddie from the lenders and resold to investors.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6598 size-large\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2021\/06\/couple-moving-in-1024x683.png\" alt=\"\" width=\"696\" height=\"464\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The most prominent rule for a conforming conventional loan is whether it exceeds the maximum loan amount or loan limit. For 2021, in most of the United States, the maximum conforming loan limit (CLL) for one-unit properties is $548,250. In high-cost areas of the U.S., the maximum CLL is $822,375. If you\u2019re interested in a loan that exceeds those limits, some lenders offer jumbo-conforming conventional loans. Not sure what the loan limit is for your area? Visit the<\/span><a href=\"https:\/\/www.fhfa.gov\/Media\/PublicAffairs\/Pages\/FHFA-Announces-Conforming-Loan-Limits-for-2021.aspx\"> <span style=\"font-weight: 400;\">Federal Housing Finance Agency website<\/span><\/a><span style=\"font-weight: 400;\"> for a list of limits for all counties in the U.S.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Non-conforming Conventional Loans<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Non-conforming conventional loans, also called jumbo loans, don\u2019t follow the rules set by Fannie and Freddie and are therefore not eligible to be purchased by them. Since jumbo loans carry a higher risk to the lender, they often have a down payment requirement of 20% or more, in addition to higher interest rates.<\/span><\/p>\n<h2>Private Mortgage Insurance<\/h2>\n<p><span style=\"font-weight: 400;\">Since conventional mortgages are not backed by a government entity, the borrower is on the hook for insurance payments to the lender. In order to protect themselves, lenders such as banks, credit unions, and other financial institutions, require the borrower to pay Private Mortgage Insurance (PMI) on loans with less than a 20% down payment. In other words, PMI allows borrowers to qualify for a higher loan amount without having to put down as much money.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">To be clear: This insurance does not protect you as a borrower \u2014 it\u2019s to protect the lender if you fall behind on payments. Failure to pay your mortgage will result in penalties to your credit score and possibly foreclosure.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">A benefit of conventional loans is that the PMI can be removed once you\u2019ve paid down 78% of the value of your home. With an FHA loan, the insurance remains intact for the life of the loan if your down payment was less than 10%.<\/span><\/p>\n<h2>Pros and Cons of Conventional Loans<\/h2>\n<h3>Pros<\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Lower interest rates:<\/b><span style=\"font-weight: 400;\"> since they are based on borrower\u2019s credit scores<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Higher loan limits:<\/b><span style=\"font-weight: 400;\"> conforming conventional loans offer a large limit and borrowers can utilize jumbo-conforming conventional loans if needed<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Flexibility:<\/b><span style=\"font-weight: 400;\"> not having to adhere to the same regulations as government-backed programs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>No upfront mortgage fee:<\/b><span style=\"font-weight: 400;\"> FHA loans require 1.75% of the mortgage amount\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Private mortgage insurance eligible to be removed<\/b><span style=\"font-weight: 400;\"> after paying 78% of appraised home value<\/span><\/li>\n<\/ul>\n<h3>Cons<\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High credit score requirement:<\/b><span style=\"font-weight: 400;\"> 620 or above<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High down payment requirement:<\/b><span style=\"font-weight: 400;\"> 20% to avoid paying PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rigid qualifying criteria:<\/b><span style=\"font-weight: 400;\"> low debt-to-income ratio and proof of income for at least two years<\/span><\/li>\n<\/ul>\n<h2>Qualifying for a Conventional Mortgage<\/h2>\n<p><span style=\"font-weight: 400;\">To qualify for a conforming conventional loan, be prepared to meet the following criteria:<\/span><\/p>\n<p><b>A credit score of 620 or higher.<\/b><span style=\"font-weight: 400;\"> The higher the credit score, the more favorable your interest rates will be. Work on your credit rating as much as possible before applying for a conventional loan.<\/span><\/p>\n<p><b>A minimum down payment of 3%<\/b><span style=\"font-weight: 400;\"> is required for conforming conventional loans. Keep in mind that any down payment under 20% will be subject to PMI. So if you\u2019re able to save and put down 20% you can skip that extra monthly amount.<\/span><\/p>\n<p><b>Debt-to-income ratio (DTI) of 36% to 45%.<\/b><span style=\"font-weight: 400;\"> Ideally, no more than 36% of your monthly income would be paid toward debt. Some lenders will stretch that to 45% but Fannie Mae and Freddie Mac have a maximum DTI of 50% for conforming conventional loans.<\/span><\/p>\n<p><b>Proof of income.<\/b><span style=\"font-weight: 400;\"> Show that you\u2019re making and saving the amount of money you say you are. Lenders will require tax returns, W-2s, and pay stubs for at least two years.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this guide, we\u2019ll provide information on the most common type of home loan: the conventional loan. A conventional loan is a type of mortgage that\u2019s not backed by the government, but rather a private lender. What are Mortgages? A mortgage is a type of loan where a bank or financial institution lends money to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[2],"tags":[41],"class_list":["post-156","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mortgage-basics","tag-loan-types"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a Conventional Loan? - RealtyHop Mortgage Center<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a Conventional Loan? - RealtyHop Mortgage Center\" \/>\n<meta property=\"og:description\" content=\"In this guide, we\u2019ll provide information on the most common type of home loan: the conventional loan. A conventional loan is a type of mortgage that\u2019s not backed by the government, but rather a private lender. What are Mortgages? A mortgage is a type of loan where a bank or financial institution lends money to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"RealtyHop Mortgage Center\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-16T00:48:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-22T17:36:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shane Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shane Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/\"},\"author\":{\"name\":\"Shane Lee\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"headline\":\"What is a Conventional Loan?\",\"datePublished\":\"2021-07-16T00:48:42+00:00\",\"dateModified\":\"2023-07-22T17:36:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/\"},\"wordCount\":1334,\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/07\\\/houses-1024x682-1.jpg\",\"keywords\":[\"Loan Types\"],\"articleSection\":[\"Mortgage Basics\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/\",\"name\":\"What is a Conventional Loan? - RealtyHop Mortgage Center\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/07\\\/houses-1024x682-1.jpg\",\"datePublished\":\"2021-07-16T00:48:42+00:00\",\"dateModified\":\"2023-07-22T17:36:40+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/07\\\/houses-1024x682-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/07\\\/houses-1024x682-1.jpg\",\"width\":1024,\"height\":683},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/what-is-a-conventional-loan\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is a Conventional Loan?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#website\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/\",\"name\":\"RealtyHop Mortgage Center\",\"description\":\"RealtyHop Mortgage Center\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\",\"name\":\"Shane Lee\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"caption\":\"Shane Lee\"},\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/mortgage-center\\\/author\\\/alsoshane\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is a Conventional Loan? - RealtyHop Mortgage Center","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/","og_locale":"en_US","og_type":"article","og_title":"What is a Conventional Loan? - RealtyHop Mortgage Center","og_description":"In this guide, we\u2019ll provide information on the most common type of home loan: the conventional loan. A conventional loan is a type of mortgage that\u2019s not backed by the government, but rather a private lender. What are Mortgages? A mortgage is a type of loan where a bank or financial institution lends money to [&hellip;]","og_url":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/","og_site_name":"RealtyHop Mortgage Center","article_published_time":"2021-07-16T00:48:42+00:00","article_modified_time":"2023-07-22T17:36:40+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg","type":"image\/jpeg"}],"author":"Shane Lee","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shane Lee","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#article","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/"},"author":{"name":"Shane Lee","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"headline":"What is a Conventional Loan?","datePublished":"2021-07-16T00:48:42+00:00","dateModified":"2023-07-22T17:36:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/"},"wordCount":1334,"image":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg","keywords":["Loan Types"],"articleSection":["Mortgage Basics"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/","url":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/","name":"What is a Conventional Loan? - RealtyHop Mortgage Center","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#primaryimage"},"image":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg","datePublished":"2021-07-16T00:48:42+00:00","dateModified":"2023-07-22T17:36:40+00:00","author":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"breadcrumb":{"@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#primaryimage","url":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg","contentUrl":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-content\/uploads\/sites\/2\/2021\/07\/houses-1024x682-1.jpg","width":1024,"height":683},{"@type":"BreadcrumbList","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/what-is-a-conventional-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realtyhop.com\/mortgage-center\/"},{"@type":"ListItem","position":2,"name":"What is a Conventional Loan?"}]},{"@type":"WebSite","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#website","url":"https:\/\/www.realtyhop.com\/mortgage-center\/","name":"RealtyHop Mortgage Center","description":"RealtyHop Mortgage Center","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realtyhop.com\/mortgage-center\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realtyhop.com\/mortgage-center\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee","name":"Shane Lee","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","caption":"Shane Lee"},"url":"https:\/\/www.realtyhop.com\/mortgage-center\/author\/alsoshane\/"}]}},"modified_by":"lawrence","_links":{"self":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/comments?post=156"}],"version-history":[{"count":3,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/156\/revisions"}],"predecessor-version":[{"id":1116,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/posts\/156\/revisions\/1116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/media\/157"}],"wp:attachment":[{"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/media?parent=156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/categories?post=156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realtyhop.com\/mortgage-center\/wp-json\/wp\/v2\/tags?post=156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}